Despite the decline, the trade group expects the California market will end the year with around 2 million new-vehicle registrations. That would be a slight decline from the 2.05 million registrations the market recorded in 2017, providing further proof the market has plateaued after several years of big increases.
August 28, 2018
The deal was first reported on Sunday by The Banks Report, which described the pending acquisition as checking off 'several boxes for CDK while filling a big product hole — a viable integrated CRM platform with significant market share.'
July 16, 2018
The compliance sweep, which took place in seven states, is the first since the agency's new Used Car Rule took effect earlier this year. Dealers who failed to comply could face penalties of up to $41,484 per violation.
July 12, 2018
Retail sales for the first half of 2018 are expected to be the weakest since 2014, but record transaction prices have consumers on pace to spend nearly $5 billion more on new-vehicle purchases during the period compared to a year ago.
June 28, 2018
The startup’s war chest now totals $30 million after securing $15 million in new funding. The announcement comes on the heels of two other major developments for the San Francisco-based startup, including new relationships with Lithia Motors and Lexus.
June 27, 2018
Black Book issued its estimate days after Cox Automotive Chief Economist Jonathan Smoke said the number of damaged vehicles could reach half a million. With Harvey coming ashore near the Texas-Louisiana border on Wednesday, forecasts remain fluid.
August 31, 2017
Particularly hard hit in September were mid-size cars, while the luxury car segment experienced a nice bounce in its average wholesale price, according to ADESA Chief Economist Tom Kontos. Mini-vans also experienced solid price growth during the month.
October 13, 2016
Average wholesale values fell again on a month-over-month basis in June, but they remain up on a year-over-year basis thanks to the continued price strength of trucks, according to ADESA Analytical Services.
July 12, 2016
General Motors responded on Friday to legal concerns raised in a Feb. 8 letter from the California New Car Dealers Association. The automaker said it is not infringing on its dealers' used-vehicle operations, adding that projected sales from its Factory Pre-Owned Collection program will represent 'roughly 1% or less of current used retail volume our dealer network sells.'
February 23, 2016
The software giants are currently forming an integration team to determine how the combined companies will be organized once the deal closes in the third quarter. A company official said Cox had identified Dealertrack as an acquisition target last year.
June 16, 2015
F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.
November 20, 2014
Douglas Herberger resigned from his post as president of Allstate Dealer Services this week. A replacement has not been named, but the company told industry partners on Tuesday it’s already in the process of transitioning to new leadership.
March 20, 2014